Bibby Financial Services

Bibby Financial Services
Private
Industry Financial Services
Founded 1982
Headquarters Banbury, United Kingdom
Key people
 David Postings (CEO)[1]
Owner Bibby Line Group
Number of employees
 1,300
Website www.bibbyfinancialservices.com

Bibby Financial Services (BFS) is a multinational corporation which provides financial services to small and medium sized enterprises (SMEs).

The company is a subsidiary of the Liverpool-based Bibby Line Group, which was founded in 1807 by businessman, John Bibby (1775-1840). Bibby Line Group operates across a range of industries including shipping, retail, marine, offshore and distribution.[2]

History

Bibby Financial Services was founded in 1982 during Sir Derek Bibby's chairmanship of the Bibby Line Group, a post he held from 1969 until 1992.[3]

For the first two years BFS was operated from the Bibby Line Group accounts department, before becoming a separate business entity.[4]

The company has 19 UK offices with its headquarters located in Banbury, Oxfordshire.

BFS has more than 40 offices in 14 countries across Asia, Europe and America, including, Hong Kong, Singapore, Malaysia, India, Canada, France, Germany, Poland, Ireland and the UK.

Current chief executive

In September 2011, BFS appointed Simon Featherstone as global chief executive, replacing David Robertson who retired the same year.[5] Featherstone was previously managing director at Lloyds TSB Commercial Finance, where he managed a team of 1,100 people across the UK, US and Europe.

Simon Featherstone left the business in August 2015. David Postings, who joined BFS as UK chief executive in April 2012, was appointed as global chief executive on 7 September 2015.[6]

Bibby Financial Services today

Bibby Financial Services has 9,900 business customers, providing £683m of funding to businesses worldwide.[7] In 2013, the business had a turnover of £170m.[8]

The company is the largest independent invoice finance provider in the UK, handling annual turnover of over £5bn on behalf of its 7,000 clients.[9] In November 2015 BFS announced that it was committing over £770m in funding to UK SMEs following a successful refinancing deal.[10]

In 2011, 2012, 2014, 2015 and 2016 the company was awarded a place in The Sunday Times 100 Best Companies to Work For, ranking 31st in the most recent poll.

Products and services

Financing options provided by BFS include invoice discounting, factoring, lease finance, trade and export finance and specialist finance for the construction and recruitment sectors.[11]

In December 2015, the company announced plans to launch a foreign exchange product in 2016 following approval from the Financial Conduct Authority.[12]

Corporate social responsibility

In 2014, Bibby Financial Services contributed more than £160,000 to 157 employee chosen charities.[13]

Since its creation in 2007, the Bibby Line Group's Giving Something Back scheme has raised more than £8.4m for over 1,000 charities.[14]

See also

References

  1. ↑ "Entrepreneurs raid savings for growth capital". Telegraph. Retrieved March 2015.
  2. ↑ "Bibby Line Group Companies". Bibby Line Group. Retrieved March 2015.
  3. ↑ "Sir Derek Bibby, Bt". Telegraph. Retrieved March 2015.
  4. ↑ "Bibby Line Group Companies". Bibby Line Group. Retrieved March 2015.
  5. ↑ "Profits rise at Bibby finance arm as new chief appointed". The Free Library. Retrieved March 2015.
  6. ↑ "David Postings promoted to global CEO at Bibby Financial". Retrieved 2015-09-08.
  7. ↑ http://www.bibbyfinancialservices.com/client-area/about%20us
  8. ↑ "Just how do you follow a star?". The Sunday Times. Retrieved March 2015.
  9. ↑ "Bibby Financial Services Blog". www.bibbyfinancialservicesblog.com. Retrieved 2015-10-09.
  10. ↑ Bounds, Andrew; Editor, Enterprise (2015-11-10). "Bibby Financial strikes first private sector securitisation deal". Financial Times. ISSN 0307-1766. Retrieved 2016-01-14.
  11. ↑ "About Us : Bibby Financial". www.bibbyfinancialservices.com. Retrieved 2015-10-09.
  12. ↑ "Bibby moves into FX market". BestAdvice. Retrieved 2016-01-14.
  13. ↑ "Find out more about Bibby Financial Services with our latest factsheet | Bibby Financial Services". www.bibbyfinancialservicesblog.com. Retrieved 2016-01-14.
  14. ↑ "Home | Bibby Community | Bibby Community". www.bibbycommunity.com. Retrieved 2016-01-14.

External links

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